Cars News: Despite an estimated market demand of 2.1 million units for new energy vehicles (NEVs), including EVs and plug-in hybrids, BYD, Aito, and Li Auto, the
Electrification will be the endgame of China’s decades-long energy transition, with a major new outlook released at COP28 in Dubai predicting power demand to more than double by 2060 as Beijing electrifies swathes of the Chinese economy. [Gas in Transition, Volume 3, Issue 12]
China has made progress on gas pricing reforms, with a linkage between upstream costs and end-user tariffs finally in place, but certain players along the gas value chain are reaping the benefits more than others. [Gas in Transition, Volume 3, Issue 11]
Gadgets News News: Xiaomi is set to showcase its EV technology for the first time at the Stride event. The company has received approval from China's NDRC to manufacture
Policymakers, wary of inciting reckless borrowing in real estate, are instead investing heavily in factories and trying to help indebted local governments.
The CCP thinks it can rebuild business confidence by inserting itself into the decision making. It should make any sane business manager run the other way.
The upbeat tone of officials speaking at a news conference in Beijing was in contrast to forecasts by the Asian Development Bank and the Organization for Economic Cooperation and Development, which say weakness in the Chinese economy are expected to further dent global and regional growth. Cong Liang, vice chairman of China’s chief planning agency, the National Development and Reform Commission, told reporters that the country’s resilience during past crises was grounds for confidence and that improved factory output and tourism figures show the economy is on the mend. “Facts have fully proved that the decision-making arrangements of the party Central Committee and the State Council (China's cabinet) are correct and the macro-control policies are effective,” Cong said in the briefing, which was carried online.
The officials acknowledged daunting challenges in reviving economic growth, but were united in predicting that the ruling Communist Party will ensure that the slowdown is temporary
China has halted exports of urea, a key fertilizer, due to a surge in prices, resulting in around 500,000 metric tons being held up at Chinese ports. This is causing delays and potential shortages for buyers such as India. China is the world's largest producer of urea and accounts for a third of global supplies. Chinese state-owned producers are prioritizing domestic supply, and port inspections for urea cargoes have been suspended. The curbs are expected to raise global prices and increase spending by countries reliant on imported urea.